[eBooks, Videos, Links etc.] The eBay Thread

[Amail]

Now that I've gotten the cool towels to go along with the cool collars, I have the following inventory:

• Qty 16 HeatBuster Cool Collars
• Qty 48 Cool Towels, Blue
• Qty 48 Cool Towels, Yellow

I'd like to retail the Cool Collars for $6.49 (free shipping) and the Cool Towels for $10.99 (free shipping). For auctions, the lowest I'd like to get for the Collars is $4.00 (free shipping) and the towels is $6.00 (free shipping).

For the towels I can offer an even lower price for people willing to have them shipped without their plastic tube, so there's that configuration as well.

You had some good advice about mixing up separates, bundles, BIN listings and auctions. I thought I could suss it all out, but I've got some questions. With the above inventory, what would you recommend I do?

• Should I put some auctions starting at $0.99 and hope for the best?
• Should I put in a reserve price?
• Should I put in a starting price just below what I want out of it?
• How many days should I let each auction go?
• I've heard that auctions ending on Sunday do best. Should I schedule my auctions with that in mind?
• I've got great photos of everything, but not as a bundle. Should I can take that photo too, or just put a photo of the blue and a photo of the yellow?

What now, great sensei? :thankyousign:

 

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[TK1]

Now that I've gotten the cool towels to go along with the cool collars, I have the following inventory:

• Qty 16 HeatBuster Cool Collars
• Qty 48 Cool Towels, Blue
• Qty 48 Cool Towels, Yellow

I'd like to retail the Cool Collars for $6.49 (free shipping) and the Cool Towels for $10.99 (free shipping). For auctions, the lowest I'd like to get for the Collars is $4.00 (free shipping) and the towels is $6.00 (free shipping).

For the towels I can offer an even lower price for people willing to have them shipped without their plastic tube, so there's that configuration as well.

You had some good advice about mixing up separates, bundles, BIN listings and auctions. I thought I could suss it all out, but I've got some questions. With the above inventory, what would you recommend I do?

• Should I put some auctions starting at $0.99 and hope for the best?
• Should I put in a reserve price?
• Should I put in a starting price just below what I want out of it?
• How many days should I let each auction go?
• I've got great photos of everything, but not as a bundle. Should I can take that photo too, or just put a photo of the blue and a photo of the yellow?

What now, great sensei? :thankyousign:

Basically, two things I can tell you for the point you are right now:

A. you can worry about making a profit, pricing etc.right now OR

B. just worry about market demand / is there a need AND how big is the demand? (after i sell 100 and try selling 500, do people still buy more and more???)

so, A = we want to make money ASAP and worry about profit, means we worry about listing our stuff as an auction and worry about selling some items with a loss. so we offer articles only as buy it now with a calculated profit.
B = it's all about sales. can i make 10 sales or 100? how big is the market demand? i don't worry about profit per item right now, i worry about the size of the demand.

as you are aware of the fastlane book we know ebay is just a distribution test for our long term big plan (=control). if we offer our ebay product and get 1000 sales, we continue with own ecommerce store, other distributors, offline distribution etc...

so basically when STARTING:

eBay is just = do i make sales with my OFFER = IDEA? HOW MANY?
it's like playing super mario brothers on SNES - can i beat level 1? fine, now let's try sell 500 and get to level 2 etc....
if i sell out all my first products = i know there is a demand
now i need to go to level #2 = a.) experiment with pricing and marketing and b.) scale c.) profit
you are at level 1 and right now it's not about profit, but sales = getting to next level after you see people at least buy it, doesn't matter whether you loose on one product 1$ and profit on the next one 1$.
example:
if i sell 5 out of 100 products and make 10$ profit on each of the 5, who cares, because i haven't sold the other 95...

the important game is FOCUS on total bank account LONG TERM, NOT on small pennies, especially not at the start.
read this thread, luke and biophase are 100% RIGHT:
https://www.thefastlaneforum.com/your-goals-your-fastlane-plan/27474-broke-try-ebay.html

2. Feedback- Does it suck processing a $300 "profit" refund back to a customer after he held onto a suit for two weeks and probably wore it? Yes. But is it worth ruining your feedback which is really the only reason people will trust you do begin with? No. So gives those refunds no quesitons asked. Be a problem solver, be sweeeet, smile! It cost me THOUSANDS per years returning stuff, but without doing it I would be out of business. Ebay gives all the power to buyers, trust me.

I use to always do 7 day listings, but then I started building up so much inventory I decided to go to 5 days and essentially get two extra turns per month. I pretty much look at like, if somebody is going to find your item and bid, 5 days is plenty of time. The two extra turns per month is worth it for me to pay a few extra 100 in fee's.

As far as how I list them, majority auction with a fair starting price. I am going to more fix priced listings with free shipping as it suppose to get more exposure that way. All a way to make money by ebay really....you will get screwed either way on fee's. I probably pay 2k per month in fee's. Just gotta roll with it. That is why it is important to find a niche you can sell items for a solid profit and quickly.

If items don't sell after say 3-4 weeks, I just unload them for a low price and move on....

4) I've also found that if you worry about the money too much that business starts to suffer. Like you said, give that refund and resell the product you might make more the 2nd time. Don't count your profits because you will stress over amounts of $10. As long as my account grows I'm doing ok.

and: it's important for your motivation to get many, many sales when starting, because it keeps you very motivated and wanting to fine tune pricing, do more marketing, learn more etc. try selling 500 things on eBay can be some old CDs and you will be VERY motivated to keep going, but the guy listing 500 cds for buy it now with nice profit and sells 1 CD will give up most certainly.

you bring a new product to the market, start with level one = finding buyers. worry about profit later. that's why some websites have like many users, but don't make money like instagram and sell for a billion, they have lots of users and that's what counts, how much every user can be worth is a question determined by their long term strategy or in this case facebook

just worry about sales and lots of traction (+ many ebay customer feedbacks ASAP). sales beget sales.

the sensei is very happy to help if you have more questions



PS: As you are importing your product from china and pay very low prices / starting investment, you will be very good with profits in the future IF the market wants your product and buys.

 

[Amail]

I'm perfectly happy selling these for whatever they sell for. I'm asking about what strategy should I use to get them sold. Multiple single auctions? How long should they run? How, or should, I bundle them? Do I put in a reserve price?

 

[Amail]

Hit SEND too early.

If you were starting with zero feedback, how would you position this?

 

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[TK1]

Hit SEND too early.

If you were starting with zero feedback, how would you position this?

I would go for all auction listings...maybe throw in 1 x buy it now...and I would buy hundreds of items from other sellers to get hundreds of positive ratings ASAP

what is your sell limit? here in germany you can only list 10 auctions at the start, or often max. 75 auctions

Bundles are a good idea, too

 

[TK1]

PS: Have you thought of doing eBAY joint ventures instead of starting an own store? maybe an interesting alternative....

http://www.google.de/url?sa=t&rct=j...Gyd1NRfyQ&sig2=vrLhGQOmoPga4kdwJeR38A&cad=rjt

 

[mayana]

Thank you so much for the suggestion about putting a feedback reminder in with the shipment. I was getting about 10% of my customers leaving feedback, and it is up to 60-70%. Yay!

 

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[jilla82]

I wonder if anyone has any pointers when it comes to listing items as quickly as possible.
It can be a bit tedious when you have to get hundreds of listings up.

 

[TK1]

I wonder if anyone has any pointers when it comes to listing items as quickly as possible.
It can be a bit tedious when you have to get hundreds of listings up.

a.) you can use fiverr and look for somebody who does the dirt work for a few bucks - make sure that you have a cristal clear briefing set up for the listings, so nothing can go wrong

b.) there is some good software out there for this: ebay turbo lister, garagebuy, bayorganizer, auction studio, antlisting...here are some more useful tools: http://pulse2.com/2010/06/15/list-of-30-ebay-tools-useful-for-buyers-and-sellers/

there are some services that offer bulk listing service, too: eBay Bulk Listing Service | eBay Bulk Upload | dZine-Hub.com
(but don't do it if they want a % off every listing and/or sale. i would only do it for a fee like 100 bucks for 1000 articles etc. NOT like most ebay agents work "15% off every ebay profit sale per article")

note: you can aswell hire a virtual assistent from india etc. and make them do this work

 

[theag]

TK1, you're in Germany too right? Whats your experience with VAs and outsourcing? Do you outsource German tasks to English speakers/India?

 

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[TK1]

TK1, you're in Germany too right? Whats your experience with VAs and outsourcing? Do you outsource German tasks to English speakers/India?

theag,

I would highly recommend you reading the outsourcing part in Tim Ferriss 4 hour workweek book - you will get much more value out of his detailed experiences and tips than any answer I could provide you here - Tim's tips in this book are just 1:1 what I've experienced and very much on point.

Personally I wouldn't bother hiring a virtual assistant until a company doesn't make AT LEAST 1M per year (I would even wait until it's 1M in revenue p year...) - up to this point of scale I wouldn't hire a VA, especially not for ANYTHING that is related to marketing, sales, pr etc.

That said I wouldn't even trust somebody with my eBay listings, because if I learn how to list my products on eBay I will research more what the competition does, what works in the marketplace, what copy to include, what pictures sell better etc. Learning how to list on eBay is for many sellers a 'dirty task' and not a marketing/sales task, which is very much wrong, it IS a very important task that can make you successful or not.

The funny thing is most people want to outsource the SELLING stuff like SEO, listing a product, copywriting, coldcalling whatever, but most people LOVE the other stuff like product creation, working 100 weeks on a beautiful logo etc. Why? Because selling tasks are tasks that want us to fight our fears, selling means = finding out if you fail or succeed.

Start outsourcing, hiring a VA etc. after you know your business has a nice demand, don't bother when starting or when you look for a working business model.

PS: Focus on YOU doing tasks that have a big leverage. For example: Cold calling for a 10$ product might not be the way to go, but if you have a magnitude price or coldcall people that could buy 10,000 of your 10$ product this is a selling task that makes sense. Most of us don't focus on tasks with potential big leverage. Understanding eBay listing has a big leverage, too, because the more you learn how to list items the better you can use those listings for 10 or 100,000 products you sell.

 

[jilla82]

Thanks.
Im currently playing w/ Inkfrog and Garagesale to see what I like.

What kind of items do you sell on eBay TK?

 

[TK1]

What kind of items do you sell on eBay TK?

Can't tell, sorry.

You can tell anybody about one of your million business ideas you have (ideas are per se worthless), but you have to be careful with ideas that are already executed moneymakers

 

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[TK1]

Hey guys, as today is a holiday in germany "tag der deutschen einheit" i'm glad i've found some time to add some new ebay tips out of own experience - hope you enjoy it

Getting maximum traffic and best price for your offer with 1 little tip

out of experience i can tell you 1 thing:

when starting an offer on ebay make sure to have it listed that your offer runs through 2 weekends and then finishes on sunday afternoon or monday.

most buyers on ebay have to work and love to buy on ebay on weekends - when you have some experience on ebay you will see lots of traffic spikes happen on weekends.

i love to start my offers on a friday afternoon with 10 days running time so they end on tuesday....this makes 2 full weekends for more traffic and better conversations.

some example: once i've listed my old mac book that was broken and activated the option that buyers can make me a price offer - when started the listing i got over 10+ offers in only 24 hours...after that the next 5-6 days: only 2 offers. when the next weekend arrived i got again many many offers again.

try it!


4 good types of listings for your product offer

i like listing a product in 4 ways:

a.) auction listing starting at 1 buck

b.) auction listing starting at x price (x= the MINIMUM price i would sell this article for)

c.) buy it now listing with my perfect profit price

d.) in some cases i take c.) and add 10-30% to my perfect price but activate the option that users can make me a price offer. this way i position myself way above my perfect price by adding some % to profits and when users make offers they see 'oh he wants for example 500€' and they won't make an offer for 200€ (well sometimes even those offers happen, you will see haha)

caution: be aware that you are NOT ALLOWED to list c.) and d.) for the same product twice or even many more times. ebay only allows ONE listing for the same product VERY IMPORTANT! btw: but you are allowed to list as many auction listings for the same product as you want IF your product sells very well after a market tests (means: you should start selling like 2-3 auction listings for your product and if every time your product sells - try 10 - then 50 etc.) - see here for the rules: Duplicate listings policy


The power of the backend

what is the backend?

the backend is the sales you try to make after you win a customer in the frontend of your business.

for example: you hand out flyers for your new nightclub in the city. the person visits your nightclub and pays 10 bucks for entry (=frontend)...now it's up to you to make this customer a.) pay as much as possible for additional things (drinks, strippers etc.) and b.) return again and again to your club (= lifetime customer value)

for our ebay stuff:

when selling on ebay one thing is very, very important: getting backend sales.

many sellers on ebay use ebay only as a billboard that advertises for their own ecommerce site and even make no profits at all by selling on ebay - but they do make lots of profit by making sure the ebay customer becomes a customer outside of ebay.

the 3 major types of offers in your backend:

upsell - if your customer buys your first offer for 5 bucks, what things could you come up with that he could buy for 50, 500 etc? nightclub example: we pay 10 bucks for entry fee and 100 bucks on a stripper

cross-sell: if your customer buys product x what product y could make sense to offer to this customer? if i buy a iphone on ebay i might as well look for buying some cables and cases etc.
note: it often makes sense even to offer cross-sell product way above the pricing the competition offers. we love as people always the way of least resistance and if i buy an iphone for 500 bucks i don't care paying 20 bucks more on a good case IF i can buy it from the same seller, save additional shipping costs and in case of problems be able to talk to ONE seller instead of having to deal with 5 companies just because i've saved some bucks on every iphone accessoire.

downsell: this is basically the same sell as upsell but offering a customer who buys something for 500 another product for 100 etc. downsells are a daily tactic in car sales business: somebody can't afford the car for 50k so the seller tries to sell them the car for 25k....

why focus so much on the backend and driving ebay customers to your business outside of ebay?

basically simple answer:

a.) no ebay fees etc.

b.) ebay has no more control over what you do as you make your own rules on your site


3 easy tips how i make sure driving ebay customers to my outside business:

a.) flyers in the shipping package - include a nice flyer with something like "get 10% off your next order on www.domain.com"
make sure to make the domain name very big or if not big very dominant / sticking out from the flyer

b.) brand anything possible with your domain name - make sure ANY part of your shipping package is branded with your logo and domain url - from the bags to even the packing band....by including your domain url on the package band even the ups delivery guy can see your website url haha why not right? every possible pair of eyes is a possible customer

c.) following up via emails....after having a customer purchase on ebay follow up with people via email BUT: don't use some email marketing - newsletter stuff, many people will get pissed off and i highly doubt ebay will like it when you take the paypal email adresses and use them for some email newsletter marketing stuff....so: email customers via your private email account with a nice personal email that sounds NATURAL without any offers etc. just something like "hi, how was your purchase? are you satisfied or may i help you with something?"





-----

ok guys, my time runs out right now, hope you get some value out of this post, i try to add more ASAP - if you have questions i'm always available via PM or in this thread.

 

[Omer]

Those tips are simply amazing. Going to start implementing them ASAP! Always love your insight TK1, you couldnt pay for this kind of info!

Speed+++

 

[jilla82]

Can't tell, sorry.

You can tell anybody about one of your million business ideas you have (ideas are per se worthless), but you have to be careful with ideas that are already executed moneymakers

I wasnt asking for ideas..just curious...like which category...or if you sell on there full time etc... (I wasnt sure if you sold on eBay)

 

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[TK1]

Oh, i got a similiar question via pm today...

i don't use ebay like those ebay courses teach you as in 'get rich on ebay' etc. means: i don't follow an ebook etc. that tells you to flip computers on ebay or craigslist etc...

i just use ebay for my biz as a distribution chanel / traffic generator. like i don't use adwords for trying to get rich by following an ebook from warriorforum, but use adwords as a chanel to buy traffic for my biz..

do you get the difference, i hope it's clear what i mean, sorry if i couldn't help?

I wasnt asking for ideas..just curious...like which category...or if you sell on there full time etc... (I wasnt sure if you sold on eBay)

 

[TK1]

How it's possible to make 1000's of $ with ONE sold item

Hey guys, how are you doing? I would like to share with you one of the most valueable eBay selling 'secrets' there is, which I know from experience 90% of new eBay sellers don't know about (It's not actually a real secret, just a thing most don't know about....)

This tip goes in the category for AUCTION listings.

Many people ask: Should I list my offer as a auction listing or buy it know, right?

Here is one thing an auction listing has a HUGE advantage:

When you sell your product in one auction you can make an offer to ALL other bidders who didn't win the final thing.

Check this one out: Making a Second Chance Offer

Example:

I have sold a product for a final price of 29€ plus 8€ shipping. Not a lot, right?

But: The product had a crazy bidding 'war' with over 20 bids and 8 bidders who wanted to buy the product - plus over 20 people who had the product on their watching list.

After selling the product to the winning person for 37€ I used the second chance offer option and offered the same product to 4 other bidders:

1 sold for 26€ plus 8€ shipping.
1 sold for 22€ plus 8€ shipping.
1 sold for 18€ plus 8€ shipping.
1 sold for 14€ plus 8€ shipping.

My cost per product runs at only ~2-3€.

So in total:

5 products sold in ONE auction: 37€ + 34€ + 30€ + 26€ + 22€
Total revenue for 5 products sold: 149€
Total profit is around ~ 100€

This is another good example why selling on eBay follows the #1 rule: Sales beget sales.

If you sell via auction and get many bidders, eBay rewards you with this nice opportunity. If you sell only via buy-it-now you don't get this opportunity. Ebay wants as many sales for you as possible, because that means more revenue for their company. Most new sellers get very greedy and/or anxious that they don't get the best price selling their products via auction listings, but try using auctions, too

 

[TK1]

How to save lots of time doing market research on eBay

This is a little one I've figured out by accident:

Here's how you normally do market research on eBay:

1. You look for a certain product by browsing categories and / or using search

2. you click 'completed listings' in the left sidebar to find out what sells for how much by who and how often.

3. you can scroll down of the ebay site and add this specific search to your google reader by clicking on the orange RSS button

4. now you get all completed listings into your rss reader and see how your competition is doing.


But there's one thing that can take lots of time:

eBay shows you ALL completed listing for a specific product / category.

This means you have to browse through the thousands of products that have not been sold only to get the few products that actually do sell.

The solution to this problem:

Wouldn't it be perfect only to get the SOLD listings and not waste time clicking through the thousand unsold items?

I have searched month for a solution to this, because some categories have like 100 sold items out of 1000 and you basically click through 10,000 listings EVERY DAY to spot the few hot selling products.

Then I have installed the eBay app on my iphone a few days ago and, believe it or not: the app has this filter feature.

How to:

1. When on your app looking for a product use the redefine option and there you will have the option to 'show only completed items SOLD'. Et voila.

I can't believe eBay doesn't offer this highly valueable feature on their website, maybe they will add it one day idk...

 

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[TK1]

How To Change A Negative Ebay Rating Into A Positive One

This happens to every eBay seller, right?

Some things 'F*ck up' and you are facing the anger of your customer.

Sometimes you deliver too late, sometimes it's not the article your customer has expected and sometimes it's just some customer wanting to be mad at somebody.

From trying hundreds of solutions on eBay how to deal with transactions and customers that went sour I've experienced this to be the most effective one:

1. Ask the customer for their telephone number and call them. If you don't have the time / ressources for calling via telephone you can aswell write a message.

2. In your call / message apologize to your customer for anything that went wrong and make them an offer they can't refuse:

3. Offer your customer to keep the article they've ordered FOR FREE PLUS REFUND THEIR MONEY.

Giving your customer something for free, apoloziging in person and refunding the money is probably the way to get hold of any transaction that went wrong.

Note:

If you are selling very expensive articles like Apple stuff, cars etc. this is hard to do, but you can offer something related to the article.

If you sold an iPad and the customer is unhappy with the iPad - pay for their shipping costs for sending it back and send them a gift like an itunes gift card. If you sold a 5000€ watch and have a refund you can get this customer a coupon for a free watch repair service.

There is almost a solution to every product you can sell to make up with problematic transactions.

Yes, it costs you money and time, but it follows one of my favorite business principles:

 

[TK1]

I would really like to add this link to this thread - I highly recommend to read this article and you will be absolutely more than ready to go and sell your first products on eBay:

https://www.thefastlaneforum.com/pr...15-year-olds-story-about-importing-china.html

(thanks for the thread JAJT)

 

[Dezzamondo]

I've got one for you guys today

How to improve the chance of positive++ feedback:

So you've got your fantastic product, and its selling, but people are leaving all the standard + mostly positive "great seller...", "as described", etc feedback. Great! But as TK mentions, feedback is your biggest sales ally on eBay. So I've started trying a different tactic in my listings, that goes a little something like this:

1) List your items with free shipping (or low price) for a 2nd tier postage (UK I use 2nd Class Recorded).
2) Make sure there is an option to UPGRADE to a top tier postage for a couple of [£$ insert curreny here] more (I use 1st Class Recorded). The price should be at a premium, making it appear to be a much higher value option than the free postage. (I'm using 4x the difference between the two options; (1st - 2nd) x 4 = 50p x 4 = £2
3) Most sales will go through with the Free option, so here's your opportunity to increase your perception of VALUE...
4) Automatically ship the product to your customer via the TOP TIER option.
[4.5) If they have already taken the upsell to 1st Class, then throw in a freebie, token or some other kind of compliment that's relevant to your product if you can]
5) Send them an ebay message to let them know. It could be for almost any reeason, like; "As a valued [first time] customer to [business name here] we have upgraded your postage to 1st class. We greatly appreciate your custom and hope you continue to enjoy our products[and/or services]. With compliments, [name]". Use your imagination!
6) Enjoy the glowing reviews!

Naturally, if your product is crap negative feedback is going to be inevitable.

Hope you like it!

 

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[TK1]

This post is reserved for "How To Add Perfect Pictures For Your Ebay Listing"

Very nice post by Tim Ferriss that we can use for ebay photos, too:
Food Photography Made Easy — Simple Tricks and Pro Tips from The 4-Hour Chef

 

[Dezzamondo]

How to improve the chance of positive++ feedback:

Just a quick update guys, turns out the product arrived faulty to my first customer, which she fixed (loose connection)... She still left positive feedback and now wants to buy MORE(!!). Great customer service goes a long way

 

[TK1]

Book recommendation

The End of Ebay: Michael Marcovici: Amazon.com: Kindle Store

There are many books on ebay out there, but this one is #1 in my opinon.

It's the story of ebay's biggest seller and even though the book is called the end of ebay it's still a great read with lots of tips.

The interesting thing: This guy said in an german interview that the best time of his business was when he and his brother did millions per year on ebay only by selling and shipping products with a 2-man company.

His book / story shows you that you can scale up to the millions with only working by yourself or with 1-3 people.

 

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[Dezzamondo]

How did he manage to bankrupt the company? Looks like a very interesting read though!

 

[TK1]

How did he manage to bankrupt the company? Looks like a very interesting read though!

His company was one step away from going public (crazy for an ebay biz!!!)...afterall the company crashed, because of many factors: scaling costs, employees, ebay costs and some credits that fell through - bascially he planned too big, like before having 1 million in profit he took credits for 50 million etc., he said he should've grown NATURALLY by re-investing profits ....but he says in his book and interviews, that he knows a multi-million dollar business in profits is still possible on ebay, even today, which is why i highly recommend this book

btw: this guy is still very-rich today, he took what he learned from his ebay business and runs multiple businesses today - just google him

 

[Robert Zebala]

TK1,

Great thread!Appreciating you provided so much advice and techniques for eBay newbies.
I plan to start selling on eBay UK in 2 months.I will definitely implement your concept of $1 items.
I will post here to share my first experience with selling on eBay UK.

 

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[TK1]

Nice to hear bro!

Hope you share your experiences with ebay in this thread.

Pozdrawiam

TK1,

Great thread!Appreciating you provided so much advice and techniques for eBay newbies.
I plan to start selling on eBay UK in 2 months.I will definitely implement your concept of $1 items.
I will post here to share my first experience with selling on eBay UK.

 

[Xyros]

I've read your thread about selling on eBay and how to get a good rating etc.
I am from Holland myself and I noticed that the eBay market in the Netherlands is very small. It seems that hardly any dutch people buy from eBay.nl, do you have this issue also in Germany?

Our biggest website is marktplaats.nl instead of eBay, where I do have my products for sale.

But my question is about having multiple eBay account for different type of products that I sell.
I sell both luxury watches and have a webshop where I sell products for home us, I have 2 eBay accounts for them because I don't think that I can offer a Rolex and sell a shower head on the same page. So I seperate them since I have 2 different kinds of businesses.

What is your idea on this?

Looking forward to your advice!

X